Baring Private Equity Secures $50M From TCDRS For Sixth Fund

Texas County & District Retirement System (TCDRS), with US$23 billion net assets, has committed US$50 million to Asian private equity firm Baring Private Equity Asia’s sixth pan-regional fund, according to media reports.

Just last week, the fund has reportedly reached a US$3.2 billion first close.

Other limited partners (LPs) in Baring’s sixth fund include Pennsylvania Public School Employees’ Retirement System (PSERS), which committed US$100 million.

San Francisco City & County Employees’ Retirement System is committing up to US$50 million.

Baring’s fifth fund closed at US$2.46 billion in January 2011. Its fourth fund closed in 2008 at US$1.52 billion.

Founded in 1997, Baring has over US$5 billion under management in total.

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